Conventional single cone bits normally consist of cone and head sections and the shape of the cone is mostly spherical or spherical with steps. A plurality of cutting elements is mounted onto the spherical surface. The head has a head body and a journal; the cone is mounted onto the head journal via its inner cavity for rotation around the journal and thus forms the bit. Gage pads are uniformly arranged on the cylindrical portion of the head, and the lower jet port in the head journal and the upper watercourse in the head body form the hydraulic structure of the bit. Such a single cone bit is a so-called full-hole bit and it breaks formation mainly by cutting. While the cone cuts bottom hole rock through rotating around the bearing, the cone surface also has a slip motion relative to the bottom of the hole, and such slip motion varies at different portions on the cone surface so that each insert of the cone moves along different tracks on bottom hole surface and cuts out a networked bottom hole pattern. Single cone bit of such structure drills steadily in soft to medium hard formations, but the inserts get wear fast and the bit performs unsatisfactory when used in hard formation. Extensive researches show that existing single cone bits are not suitable for drilling in hard formation with shear and slip rock breaking modes. Bit for drilling in hard formation must normally have the powerful impact ability to break formation rocks. Better drilling performance can only be obtained with the bit featuring abilities of impact, crush and scrape in minor spaces for rock breaking.